Speaking to The Drum, Sorrell described his overall reaction to the announcements made by Osborne as being ‘neutral to positive’.

He also highlighted corporation tax reductions, small business loans, the development of infrastructure, education and investment into the TV and film sector as being “helpful”, however he said that the reduction in 50p tax for those earning the largest wages was “good but politically puzzling.”

On his thoughts on Osborne’s budget, Sorrell surmised; “Given little wiggle room, the budget was inventive.”